Dye & Durham Limited (TSX: DND) (“Dye & Durham” or the “Company”), a leading provider of cloud-based efficient workflow software for legal and business professionals, announced today it has made a revised proposal to the board of directors at Link Administration Holdings Limited (ASX: LNK) (“Link Group”) with respect to Dye & Durham’s offer to acquire Link Group.
Dye & Durham’s letter to Link Group’s board includes a purchase price of A$4.30 per Link Group share, reduced down from A$5.50 per share offered by Dye & Durham in December 2021. It also states that the company is considering providing an undertaking to the Australian Competition and Consumer Commission (“ACCC”) in order to obtain its approval, as required in the proposed acquisition’s scheme implementation deed (“SID”).
The letter also states that other than a reduction in the offer price, Dye & Durham is not prepared to make any further amendments or alterations to the SID and that the company expects the ACCC approval, based on the contemplated undertaking, will satisfy one of the key outstanding conditions of the SID.
The revised proposal is subject to agreement with Link Group and documentation being successfully finalized.
About Dye & Durham
Dye & Durham Limited is a leading provider of cloud–based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada, the United Kingdom, Ireland and Australia, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations.
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